Price
Financials
Standalone, Rs crore| Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|
| Sales | 90 | 83 | 100 |
| Expenses | 77 | 70 | 91 |
| Operating Profit | 13 | 13 | 9 |
| OPM % | 15% | 15% | 9% |
| Other Income | 2 | 1 | 1 |
| Interest | 3 | 3 | 3 |
| Depreciation | 2 | 2 | 2 |
| Profit before tax | 11 | 8 | 5 |
| Tax % | 27% | 13% | 27% |
| Net Profit | 8 | 7 | 3 |
| EPS in Rs | 4.48 | 4.02 | 1.42 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Sales | 74 | 125 | 160 | 160 | 175 | 183 |
| Expenses | 72 | 115 | 151 | 148 | 151 | 161 |
| Operating Profit | 1 | 9 | 9 | 11 | 24 | 21 |
| OPM % | 1.8% | 7% | 6% | 7% | 14% | 12% |
| Other Income | 6 | 1 | 1 | 2 | 4 | 1 |
| Interest | 4 | 5 | 5 | 5 | 5 | 6 |
| Depreciation | 4 | 4 | 3 | 3 | 3 | 4 |
| Profit before tax | 0 | 1 | 2 | 6 | 20 | 13 |
| Tax % | -143% | -21% | 19% | 24% | 26% | 18% |
| Net Profit | 0 | 1 | 2 | 4 | 14 | 11 |
| EPS in Rs | 1.76 | 14.84 | 20.44 | 45.56 | 8.15 | 4.37 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 20% | 4% | 4% | ||
| Compounded Profit Growth | % | 128% | 75% | -27% | ||
| Stock Price CAGR | % | % | % | % | ||
| Return on Equity | % | 13% | 16% | 11% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 10 | 10 | 10 | 10 | 18 | 24 |
| Reserves | 26 | 24 | 26 | 31 | 50 | 103 |
| Borrowings | 47 | 60 | 51 | 47 | 61 | 57 |
| Other Liabilities | 31 | 28 | 20 | 25 | 33 | 26 |
| Total Liabilities | 113 | 121 | 107 | 113 | 162 | 210 |
| Fixed Assets | 30 | 26 | 24 | 22 | 37 | 40 |
| CWIP | 0 | 0 | 0 | 5 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 12 | 13 |
| Other Assets | 84 | 96 | 83 | 87 | 113 | 157 |
| Total Assets | 113 | 121 | 107 | 113 | 162 | 210 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from Operating Activity | 6 | 20 | 4 | 5 | -34 | |
| Cash from Investing Activity | 1 | -0 | -5 | -10 | -6 | |
| Cash from Financing Activity | -5 | -14 | -8 | 8 | 51 | |
| Net Cash Flow | 2 | 6 | -8 | 3 | 11 | |
| Free Cash Flow | 7 | 19 | -1 | -8 | -41 | |
| CFO/OP | 62% | 226% | 49% | 40% | -147% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 104 | 68 | 48 | 46 | 53 | 83 |
| Inventory Days | 415 | 202 | 119 | 148 | 273 | 322 |
| Days Payable | 198 | 52 | 24 | 38 | 71 | 46 |
| Cash Conversion Cycle | 320 | 218 | 143 | 155 | 255 | 360 |
| Working Capital Days | 110 | 67 | 49 | 69 | 42 | 105 |
| ROCE % | 7% | 8% | 12% | 23% | 12% |
| Mar 2026 | |
|---|---|
| Promoters | 68.01% |
| FIIs | 1.93% |
| DIIs | 3.59% |
| Public | 26.46% |
| No. of Shareholders | 527 |
Fundamentals
Market Cap₹ 217 Cr.
Current Price₹ 90.0
Stock P/E20.6
Book Value₹ 52.6
ROCE12.0 %
ROE10.8 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)4%
Compounded Profit Growth (TTM)-27%
Standalone figures.
Valuation
Market capRs 208 Cr
Enterprise valueRs 264 Cr
P/E (TTM)145.77x
Price to book6.11x
Price to sales1.67x
EV / EBITDA26.84x
EV / EBIT42.85x
EV / sales2.12x
Price to cash flow36.57x
Earnings yield0.69%
Profitability
Operating margin (excl. other income)7.45%
Operating margin (incl. other income)7.91%
EBITDA margin7.91%
Pre-tax margin0.94%
Net profit margin1.15%
ROE4.11%
ROCE6.99%
ROA1.22%
ROIC (approx.)8.31%
Tax rate-21.37%
Other income / net worth1.67%
Growth
Sales growth (latest year)69.27%
Profit growth (latest year)741.18%
Per share
EPS (TTM)Rs 0.59
EPS (latest year)Rs 14.84
Book value per shareRs 14.17
Sales per shareRs 51.74
Cash flow per shareRs 2.37
Free cash flow per shareRs -17.03
Efficiency
Asset turnover1.03x
Fixed asset turnover4.81x
Inventory turnover1.87x
Inventory days195 days
Debtor days68 days
Debtors turnover5.39x
Creditor days46 days
Cash conversion cycle360 days
Working capital days105 days
Leverage
Total debtRs 60 Cr
Cash and bankRs 4 Cr
Net debtRs 56 Cr
Debt to equity1.75x
Net debt / EBITDA5.68x
Interest coverage1.23x
Owners' fund to total sources28.09%
Debt to assets49.04%
Cash flow
Cash from Operating Activity (latest year)Rs 6 Cr
Cash from Investing Activity (latest year)Rs 1 Cr
Cash from Financing Activity (latest year)Rs -5 Cr
Net Cash Flow (latest year)Rs 2 Cr
Free cash flow (latest year)Rs -41 Cr
FCFE (approx.: FCF + change in debt)Rs -29 Cr
Cash from ops / profit, 5 years0.03x
Sales to cash flow21.85x
Statement figures
Net sales (TTM)Rs 125 Cr
Net sales (latest year)Rs 125 Cr
Operating profit excl. other income (latest year)Rs 9 Cr
Other income (TTM)Rs 1 Cr
EBITDA (TTM)Rs 10 Cr
PBDT (TTM)Rs 5 Cr
Profit before tax (TTM)Rs 1 Cr
Tax (latest year)Rs -0 Cr
Net profit (TTM)Rs 1 Cr
Net profit (latest year)Rs 1 Cr
Depreciation (TTM)Rs 4 Cr
Interest (TTM)Rs 5 Cr
Cost of goods sold (latest year)Rs 91 Cr
Total expenditure (latest year)Rs 115 Cr
Total income (latest year)Rs 125 Cr
Share capitalRs 10 Cr
ReservesRs 24 Cr
Shareholders' fundsRs 34 Cr
Total assetsRs 121 Cr
Net blockRs 26 Cr
ReceivablesRs 23 Cr
InventoryRs 49 Cr
Other liabilitiesRs 28 Cr
Shares outstanding (crore)2.41
Ownership
Promoter holding68.01%
Computed by MarketFriction from the standalone statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
| Period | MUNISH | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -8.4% | -2.8% | -5.6 pts |
| 1 month | -1.0% | -6.8% | +5.8 pts |
| 3 months | +25.5% | -7.6% | +33.1 pts |
| 6 months | +61.0% | +0.4% | +60.6 pts |
Red flags
F-score 7 of 8| explain | Low interest cover Interest cover 1.2x in 2026 |
| look | Profit leans on other income Other income was 49% of pre-tax profit in 2026 |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
No quarterly results published.
Activity
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| Tirupati Forge Ltd | 978 | 160 | 7.53 % |
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| Magna Electro Castings Ltd | 587 | 37.8 | 17.4 % |
| Kalyani Forge Ltd | 364 | 29.4 | 12.2 % |
| Nitin Castings Ltd | 235 | 28.9 | 15.5 % |
| KVS Castings Ltd | 156 | 22.1 | 15.8 % |
No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
High low price variation greater than 150perc in previous 12 monthsLess than 100 unique PAN traded in previous 30 daysSME scrip is not regularly traded
Quick answers
What is the market cap of Munish Forge Ltd?
Munish Forge Ltd (MUNISH) has a market capitalisation of Rs 217 Cr. at the 2026-10-01 close.
What is the P/E ratio of Munish Forge Ltd?
Munish Forge Ltd trades at a P/E of 20.6 on trailing twelve-month profit, at the 2026-10-01 close.
What is the 52-week high and low of Munish Forge Ltd?
The 52-week high is Rs 143.00 and the 52-week low is Rs 50.20.